VOICED : Gold glitters for Indias leaders but jewellery guarded tight

The video discusses India's significant gold reserves, valued at around 700 billion USD, and their cultural and economic importance. The government is encouraging citizens to deposit gold in banks to boost the economy, offering tax-free interest rates. This initiative aims to reduce gold imports by utilizing domestic reserves. Previous attempts in the 1990s failed due to high minimum deposit requirements, but the current scheme has lowered the minimum to 30 grams. The video highlights the cultural significance of gold in Indian society, where it serves as a financial safety net and is essential in social customs like marriage.

What is the estimated value of privately held gold in the country?

• 500 US billion dollars

• 1 trillion US dollars

• 900 US billion dollars

• 700 US billion dollars

Why is gold considered important in the society discussed?

• It is a symbol of wealth and power.

• It is used as a financial safety net and investment.

• It is primarily used for industrial purposes.

• It is a form of currency.

What incentive is the government offering to encourage gold deposits in banks?

• A free gold appraisal service

• A government-backed gold certificate

• A discount on gold purchases

• A tax-free interest rate of 2-4%

What was the minimum gold deposit requirement in the 1990s scheme?

• 30 grams

• 200 grams

• 100 grams

• 500 grams

How has the government made the current gold scheme more accessible?

• By lowering the minimum deposit to 30 grams

• By increasing the interest rates

• By providing free gold storage

• By offering gold loans